Earlier,
single hulling of ships was used by most oil and crude oil companies,
wherein only side and bottom plates were used to separate the oil and
crude oil products from seawater. Such systems proved to be quite
unsafe, especially when the black gold was to be transported to
different places. Also, because of this, there were several mishaps
and dangerous incidents that took place in the global oil and gas
industry. In order to offset the risk of spilling, numerous oil
tankers began installing a second internal plate, the distance of
which from the outer plate ranged between 1.5 and 2 meters.
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The
1990 oil pollution act was passed after the Exxon Valdez disaster
that had taken place in the U.S. This act aimed at reducing the
frequency of oil spill accidents and lessen the effects of potential
oil spills in future. This act requires tankers operating in U.S.
waters to follow the double hulling design in vessel construction.
Shipping companies are also expected to do away with all single
hulling and double bottom and double sides hulling designed ships
that they own.
Conversion
of Single Hulled Ships to Double Hulled Ships: An Ongoing Market
Trend
The
global double hulling of ships market is segmented on the basis of
types of tankers that carry either refined product or crude oil.
These tankers vary in size. On the one hand, there are relatively
small coastal tankers and on the other hand there are enormous
tankers such as ULCC (ultra large crude carrier), VLCC (very large
crude carriers), long crude vessels, and Pana-max and Afra-max crude
and product vessels. VLCC ranges between 160-320 thousands dead
weight and ULCC ranges between 320-550 thousands dead weight.
Other
vessels have a capacity below 160 thousands dead weight. The
conversion of a single hulled ships into a double hulled ship is a
very complex process. Despite this, there are numerous shipping
companies that are taking to the conversion of single hulled ships to
double hulled ones. Strict implementation of maritime and
governmental regulations are the main factors that are fuelling the
demand for double hulling of ships.
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Safe
Transportation of Crude Oil: A Key Focus Area of the Global Double
Hulling of Ships Market
Most
economies started accepting double hulling of ships after incidents
of oils spillage took place and led to huge financial losses. Asia
Pacific and Europe are by far the largest importers of crude oil and
crude products from the U.S. Trading in crude oil and its products
between the Asia Pacific countries and other countries in the world
can take place only by tankers and not by pipeline transportation,
since the trading routes are very long. This calls for appropriately
designed ships that will ensure not only the safe and pollution-free
transportation of crude oil and products.
Since
there are no other alternatives to ships operating in longer routes,
it is anticipated that the global double hulling of ships market will
expand substantially in the forthcoming years. The key companies
operating in the global double hulling of ships market are Shanghai
Waigaoqiao International Trade Co., Ltd., Imabari Shipbuilding Co.,
Ltd, Hyundai Heavy Industries Co., Ltd., Samsung Heavy Industries
Co., Ltd., and Mitsubishi Heavy Industries Ltd., amongst others.
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